Despite some strong moves and quite high volume in recent weeks, EUR/USD remains trapped in range between 1.4938 May highs and 1.3967 May lows. As such, direction of a trend on this pair remains unconfirmed, which however should unfold to the downside if we consider weakness on other markets, especially commodities which supports the US dollar.
In the next video we will describe the situation on EUR/USD, and why both bullish and bearish scenarios are still possible!
Guest Posted by Gregor Horvat
Elliott Wave Financial Service